Contribution made by Josh Forrest
Overview
Accurately predicting enterprise revenue, expense, headcount, and overall operating performance is an overwhelming assignment facing many business analysts, and today’s economic environment only makes that task more difficult. Hyperion Planning can assist by providing a Microsoft Excel and Web Based planning, budgeting, and forecasting system used to enter operational and financial plans. Companies find Hyperion Planning helps create accurate forecasts, and reduces planning cycles up to months, and with Hyperion Planning you can centrally manage and assist in each step of the planning process. Moving a planning process from an outdated Excel solution to this proven multi-dimensional system will help ensure user participation, data traceability, information security, and data integrity.
Product History
Hyperion first entered the budgeting and planning space in 1994 by acquiring Pillar Corporation and its products, the target product being Pillar, an integrated application built for forecasting, budgeting, and analysis. Pillar is a proven budgeting solution that supports decentralized decision making, and allows users to execute a range of functions including cost-center and activity-based budgeting, sales forecasting, and compensation planning.
After Pillar had gained a strong foot-hold, Hyperion began development on a new budgeting and planning application, this application to be built on top of their newly acquired multi-dimensional database Essbase, the industry leading OLAP server. Hyperion Planning is a centralized, Microsoft Excel and web-based solution that allows companies to develop and observe plans and forecasts, converting thoughts into goals and targets.
In addition to the principal Hyperion Planning application, Hyperion offers two complementary planning applications in (1) Capital Asset Planning, and (2) Workforce Planning. Capital Asset Planning offers users the ability to automate planning for capital assets and capital asset expenses such as depreciation, maintenance, and insurance. Workforce Planning offers users a module to plan for enterprise headcount, salary, and compensation.
Strengths / Benefits
- Ensure better accuracy - Using a single interface, users analyze data, view dashboards, and access formatted reports, all while interacting with the planning and budgeting system. This ability to perform analysis of data empowers users with information for creating accurate forecasts and plans.
- Reduced planning process - Moving away from Excel-based or out-of-date planning systems and into Hyperion Planning can reduce budgeting and planning cycles by weeks or months.
- Win over users - The thin-client, web interface helps appeal to a larger user base. The Microsoft Excel features give users a familiar user experience, and a more positive interaction with the application.
- Align the business - The ability of Hyperion Planning to combine financial planning and operational planning into a single system helps unite the organization within the planning process.
- The power of Essbase - Hyperion Planning makes use of the industry-leading OLAP server. The Essbase XTD platform acts as the database behind Planning, and maximizes the user experience while simultaneously minimizing IT support by using one central data store.
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